Mphasis Ltd has said that its Board of Directors have approved a proposal for merger of Mphasis Finsource Limited, a wholly owned subsidiary, with Mphasis Limited. The proposal is subject to necessary approvals.
The firm has also said that the Board has also approved a change in financial year from 01 November - 31 October to 01 April - 31 March of each year.
The current financial period will be closed on October 31, 2013 and the next financial year of the company will be from November 01, 2013 to March 31, 2014.
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